Malaysian palm oil futures rose toward the RM2,650 level in September, a level not seen since January amid continuing robust demand following the gradual easing of coronavirus-related lockdowns globally, as well as concerns over tight global inventories. Still, Malaysian palm oil production is expected to increase in 2020–21, due to favourable growing conditions, and put some downward pressure on prices.
Historically, Palm Oil reached an all time high of 4298 in March of 2008. Palm Oil - data, forecasts, historical chart - was last updated on September of 2020.
Palm Oil is expected to trade at 2559.02 MYR/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2198.29 in 12 months time.